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The National Institute of Standards and Technology (NIST) has been a leading voice in cybersecurity standards since 2013, when President Obama’s Executive Order on Improving Critical Infrastructure Cybersecurity tasked NIST,...more
The increased use of artificial intelligence (AI) in the banking, insurance, and financial services industries has led the New York State Department of Financial Services (NYDFS or Department) to publish an Industry Letter on...more
On October 16, 2024, the New York State Department of Financial Services (the "DFS"), under its Cybersecurity Regulation—23 NYCRR Part 500—issued a memorandum providing guidance on the risks posed by artificial intelligence...more
At what point has a director served too long? What about term limits? A mandatory retirement age? When do a director’s skills become stale? These issues are addressed in this issue of The Informed Board, as well as why proxy...more
Cyber threats continue to grow as a result of increased digitization, widespread use of cloud computing, advanced connectivity and artificial intelligence (AI), requiring boards of directors across all sectors to focus more...more
Financial institutions and securities market participants continue to face escalating cyber threats – in frequency, volume, and severity. The many reasons for the escalating risk include: Financial services companies are...more
Oversight of data-related risks: From data governance to GenAI and cybersecurity While data governance has been a priority for companies for some time, the explosive growth in the use of generative artificial intelligence...more
BACKGROUND - On October 16, 2024, the New York State Department of Financial Services (DFS) issued an industry letter, Cybersecurity Risks Arising from Artificial Intelligence and Strategies to Combat Related Risks,...more
On October 16, 2024, the New York Department of Financial Services (“NYDFS”) issued guidance and strategies (“Guidance”) concerning cybersecurity risks that arise in response to the advancements in artificial intelligence...more
On October 16, 2024, the New York Department of Financial Services (“NYDFS”) released an Industry Letter—entitled Cybersecurity Risks Arising from Artificial Intelligence and Strategies to Combat Related Risks (the “Letter”)....more
The ubiquity of artificial intelligence (AI) has heightened companies’ exposure to cyberattacks of increasingly greater sophistication. Our Privacy, Cyber & Data Strategy Team explores how businesses can enhance their...more
The last months of 2023 capped off another major year for insurance regulation, with state insurance regulators and the National Association of Insurance Commissioners undertaking a number of initiatives that will affect the...more
The National Institute of Standards and Technology (NIST)’s National Artificial Intelligence Advisory Committee (NAIAC) recently released its first report to President Joe Biden, providing several key recommendations on how...more
On Wednesday, June 21, 2023, Senate Majority Leader Chuck Schumer (D-NY) unveiled the five policy objectives underpinning his ongoing work on a legislative framework to regulate Artificial Intelligence (AI)—the Security,...more
The National Institute for Standards and Technology (NIST) recently unveiled the first version of its Artificial Intelligence Risk Management Framework (AI RMF 1.0, or “Framework”). This highly anticipated and detailed...more
The National Institute for Standards and Technology (NIST) recently released its Artificial Intelligence Risk Management Framework, a flexible set of guidelines that assists artificial intelligence actors, such as...more
After 18 months of numerous workshops, drafts, and discussions, the National Institute of Standards and Technology (“NIST”) published its inaugural AI Risk Management Framework (the “AI Framework”) in January 2023...more
On January 26, 2023, the National Institute of Standards and Technology (NIST) issued the Risk Management Framework for the use of artificial intelligence, or AI, in a trustworthy manner. The Risk Management Framework...more
On January 26, 2023, the U.S. National Institute of Standards and Technology (NIST) released the Artificial Intelligence (AI) Risk Management Framework (AI Risk Management Framework 1.0), a voluntary guidance document for...more
On January 26, the National Institute of Standards and Technology (NIST) published its much anticipated AI Risk Management Framework 1.0 (AI RMF or Version 1.0), a risk-management resource for organizations designing,...more
The National Institute of Standards and Technology (NIST) is leading the federal government’s charge on a framework for assessing and managing risks in artificial intelligence (AI), with a critical workshop this week to...more
On March 29-31, 2022, the National Institute for Science and Technology (NIST) held its second broad stakeholder workshop on its draft Artificial Intelligence Risk Management Framework, titled Building the NIST AI Risk...more
Following a series of recent events involving policymakers from Trump’s Administration and Capitol Hill, artificial intelligence (AI) was the second hottest topic in D.C. These events, described in detail below, demonstrated...more